Kraken Considers Delisting USDT Trading Pairs to Comply with MiCA Regulations
CryptoNewsTerminal Staff17 May, 2024
Kraken Considers Delisting USDT Trading Pairs to Comply with MiCA Regulations
Kraken is considering delisting trading pairs for Tether's USDT stablecoin, according to a Bloomberg report. The move comes as Europe's Markets in Crypto Assets (MiCA) regulation, which takes effect in July, includes provisions for stablecoins. Kraken's global head of regulatory strategy, Marcus Hughes, stated, "We are preparing for all contingencies, including the possibility that we will not be able to support trading in certain tokens, such as USDT." MiCA requires stablecoin issuers to be legal entities in the European Economic Area (EEA) and to obtain e-money regulation. The news follows a similar move by OKX in March, when the exchange announced it would gradually delist USDT trading pairs.
